COP26

It is worth bearing in mind that COP negotiations are not the only way to find solutions to global problems. What COP does is reaffirm the signals that negotiators have been sending to markets. I believe markets had got the message that coal’s days were numbered even before Glasgow. And they already regarded fossil fuel investments as risky. Of course, whether markets pull out of fossil fuels altogether and the rate they do so depends on many factors including, national policies. So governments need to step up to the plate with a realistic carbon price and end fossil subsidies.